the compound interest is equal to the simple interest for 3 years. (true/false)
Answers
Answered by
2
Answer:
Simple interest is calculated on the principal, or original, amount of a loan. Compound interest is calculated on the principal amount and also on the accumulated interest of previous periods, and can thus be regarded as "interest on interest.
Step-by-step explanation:
hope it helps
Similar questions
Social Sciences,
1 month ago
Social Sciences,
3 months ago
India Languages,
3 months ago
Chemistry,
9 months ago
Biology,
9 months ago